What is circle rate?
What is the meaning of circle rate?
When any land and building purchase or sale a rate of property is determined by buyer and saller. State Government levied stamp duty as a government revenue on total value of any land and building. Many people want to avoid such stamp duty or minimium stamp duty state government give power to local authority to fixed a minimum price of land and building for a particular area that is called circle rate so that no body can avoid stamp duty.
If any person sold his land and building the stamp duty is applicable on
Actual price of property on which sold
Whichever is higher
How do I find the circle rate of a property?